Icahn Enterprises L.P S-3, filed Jul 14, 2021

Icahn Enterprises L.P. (IEP)

S-3 2021-07-14

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Added on October 21, 2026

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	Large accelerated filer ☒			Accelerated filer ☐
	Non-accelerated filer ☐			Smaller reporting company ☐
				Emerging growth company ☐

	Page
ABOUT THIS PROSPECTUS		1
INDUSTRY AND MARKET DATA		1
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION		1
OUR COMPANY		3
RISK FACTORS		4
USE OF PROCEEDS		5
DESCRIPTION OF DEPOSITARY UNITS		6
DESCRIPTION OF PREFERRED UNITS		9
OUR PARTNERSHIP AGREEMENT AND CERTAIN PROVISIONS OF DELAWARE LAW		10
DESCRIPTION OF DEBT SECURITIES		18
DESCRIPTION OF WARRANTS		26
DESCRIPTION OF RIGHTS		28
DESCRIPTION OF UNITS		29
PLAN OF DISTRIBUTION		30
LEGAL MATTERS		32
EXPERTS		32
WHERE YOU CAN FIND MORE INFORMATION		32
INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE		32

Securities and Exchange Commission registration fee	$	77,675.43
The Nasdaq Stock Market Listing Fees		*
Transfer Agent and Registrar, Trustee and Depositary Fees		*
Accounting fees and expenses		*
Legal fees and expenses		*
Printing expenses		*
Miscellaneous		*
Total	$	*

	Exhibit No.			Description
	1.1			Form of Underwriting Agreement.*
	4.1			Specimen Depositary Certificate (incorporated by reference to Exhibit 4.1 to Icahn Enterprises’ Form 10-Q for the quarterly period ended June 30, 2016 (SEC File No. 1-9516), filed on August 4, 2016).
	4.2			Specimen Certificate representing preferred units (incorporated by reference to Exhibit 4.9 to Icahn Enterprises’ Form S-3/A (SEC File No. 33-54767), filed on February 22, 1995).
	4.3			Form of Indenture.
	4.4			Form of Indenture (Subordinated Debt Securities).
	4.5			Form of Warrant Agreement and Warrant Certificate.*
	4.6			Form of Rights Agreement and Rights Certificate.*
	5.1			Opinion of Proskauer Rose LLP.
	23.1			Consent of Grant Thornton LLP.
	23.2			Consent of Grant Thornton LLP.
	23.3			Consent of Proskauer Rose LLP (included in Exhibit 5.1).
	24.1			Power of Attorney (included on the signature pages to this Form S-3).
	25.1			Form T-1, Statement of Eligibility and Qualification under the Trust Indenture Act of 1939 under the Indenture.

/s/ Aris Kekedjian Aris Kekedjian	President, Chief Executive Officer and Director	July 14, 2021
/s/ David Willetts David Willetts	Chief Financial Officer and Director	July 14, 2021
/s/ Ted Papapostolou Ted Papapostolou	Chief Accounting Officer	July 14, 2021
/s/ Michael Nevin Michael Nevin	Director	July 14, 2021
/s/ Stephen A. Mongillo Stephen A. Mongillo	Director	July 14, 2021
/s/ Alvin B. Krongard Alvin B. Krongard	Director	July 14, 2021

				ICAHN ENTERPRISES L.P.
				By: Icahn Enterprises G.P. Inc., its general partner
				/s/ Aris Kekedjian Aris Kekedjian President, Chief Executive Officer and Director

/s/ Brett Icahn Brett Icahn	Director	July 14, 2021
/s/ Nancy Dunlap Nancy Dunlap	Director	July 14, 2021
/s/ Denise Barton Denise Barton	Director	July 14, 2021
Carl C. Icahn	Chairman of the Board	July 14, 2021

				ICAHN ENTERPRISES FINANCE CORP.
				/s/ Aris Kekedjian Aris Kekedjian President, Chief Executive Officer and Director

TRUST INDENTURE			INDENTURE
ACT SECTION			SECTION

310	(a)	(1)	7.10
	(a)	(2)	7.10
	(a)	(3)	N.A.
	(a)	(4)	N.A.
	(a)	(5)	7.10
	(b)		7.08; 7.10
	(c)		N.A.
311	(a)		7.11
	(b)		7.11
	(c)		N.A.
312	(a)		2.06
	(b)		11.03
	(c)		11.03
313	(a)		7.06
	(b)	(1)	7.06
	(b)	(2)	7.06; 7.07
	(c)		7.06; 11.02
	(d)		7.06
314	(a)		4.02; 4.03; 11.02
	(b)		N.A.
	(c)	(1)	11.04
	(c)	(2)	11.04
	(c)	(3)	N.A.
	(d)		N.A.
	(e)		11.05
	(f)		N.A.
315	(a)		7.01
	(b)		7.05; 11.02
	(c)		7.01
	(d)		7.01

	(e)			6.11
316	(a)	(last sentence)		2.09
	(a)	(1)	(A)	6.05
	(a)	(1)	(B)	6.04
	(a)	(2)		N.A.
	(b)			6.07
	(c)			9.04
317	(a)	(1)		6.08
	(a)	(2)		6.09
	(b)			2.05
318	(a)			11.01
	(b)			N.A.
	(c)			11.01

		Page

ARTICLE 1	DEFINITIONS AND INCORPORATION BY REFERENCE	01

SECTION 1.01.	Definitions	01
SECTION 1.02.	Other Definitions	04
SECTION 1.03.	Incorporation by Reference of Trust Indenture Act	04
SECTION 1.04.	Rules of Construction	05

ARTICLE 2	THE SECURITIES	05

SECTION 2.01.	Issuable in Series	05
SECTION 2.02.	Establishment of Terms of Series of Securities	05
SECTION 2.03.	Execution and Authentication	07
SECTION 2.04.	Registrar and Paying Agent	08
SECTION 2.05.	Paying Agent to Hold Money in Trust	09
SECTION 2.06.	Holders Lists	10
SECTION 2.07.	Transfer and Exchange	10
SECTION 2.08.	Mutilated, Destroyed, Lost and Stolen Securities	10
SECTION 2.09.	Outstanding Securities	11
SECTION 2.10.	Treasury Securities	11
SECTION 2.11.	Temporary Securities	11
SECTION 2.12.	Cancellation	11
SECTION 2.13.	Defaulted Interest	11
SECTION 2.14.	Global Securities	12
SECTION 2.15.	CUSIP Numbers	13

ARTICLE 3	REDEMPTION AND PREPAYMENT	13

SECTION 3.01.	Notices to Trustee	13
SECTION 3.02.	Selection of Securities to be Redeemed	14

SECTION 3.03.	Notice of Redemption	14
SECTION 3.04.	Effect of Notice of Redemption	15
SECTION 3.05.	Deposit of Redemption Price	15
SECTION 3.06.	Securities Redeemed in Part	15

ARTICLE 4	COVENANTS	15

SECTION 4.01.	Payment of Securities	15
SECTION 4.02.	Reports	15
SECTION 4.03.	Compliance Certificate	16
SECTION 4.04.	Corporate Existence	17
SECTION 4.05.	Calculation of Original Issue Discount	17

ARTICLE 5	SUCCESSORS	17

SECTION 5.01.	Merger, Consolidation or Sale of Assets	17

ARTICLE 6	DEFAULTS AND REMEDIES	18

SECTION 6.01.	Events of Default	18
SECTION 6.02.	Acceleration	19
SECTION 6.03.	Other Remedies	19
SECTION 6.04.	Waiver of Past Defaults	19
SECTION 6.05.	Control By Majority	19
SECTION 6.06.	Limitation on Suits	19
SECTION 6.07.	Rights of Holders to Receive Payment	20
SECTION 6.08.	Collection Suit by Trustee	20
SECTION 6.09.	Trustee May File Proofs of Claim	20
SECTION 6.10.	Priorities	20
SECTION 6.11.	Undertaking For Costs	21

ARTICLE 7	TRUSTEE	21

SECTION 7.01.	Duties of Trustee	21

SECTION 7.02.	Rights of Trustee	22
SECTION 7.03.	Individual Rights of Trustee	23
SECTION 7.04.	Trustee’s Disclaimer	23
SECTION 7.05.	Notice of Defaults	24
SECTION 7.06.	Reports By Trustee to Holders	24
SECTION 7.07.	Compensation and Indemnity	24
SECTION 7.08.	Replacement of Trustee	25
SECTION 7.09.	Successor Trustee by Merger, Etc.	25
SECTION 7.10.	Eligibility; Disqualification	25
SECTION 7.11.	Preferential Collection of Claims Against the Company	26

ARTICLE 8	DISCHARGE; LEGAL DEFEASANCE AND COVENANT DEFEASANCE	26

SECTION 8.01.	Discharge; Option to Effect Legal Defeasance or Covenant Defeasance	26
SECTION 8.02.	Legal Defeasance and Discharge	26
SECTION 8.03.	Covenant Defeasance	27
SECTION 8.04.	Conditions to Legal or Covenant Defeasance	27
SECTION 8.05.	Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions	28
SECTION 8.06.	Repayment to the Company	28
SECTION 8.07.	Reinstatement	28

ARTICLE 9	AMENDMENT, SUPPLEMENT AND WAIVER	29

SECTION 9.01.	Without Consent of Holders	29
SECTION 9.02.	With Consent of Holders of Securities	30
SECTION 9.03.	Compliance with Trust Indenture Act	31
SECTION 9.04.	Revocation and Effect of Consents and Waivers	31
SECTION 9.05.	Notation on or Exchange of Securities	31
SECTION 9.06.	Trustee to Sign Amendments, Etc.	31

ARTICLE 10	NOTE GUARANTEES	32

SECTION 10.01.	Guarantee	32
SECTION 10.02.	Limitation on Guarantor Liability	33
SECTION 10.03.	Execution and Delivery of Guarantee	33

ARTICLE 11	MISCELLANEOUS	33

SECTION 11.01.	Trust Indenture Act Controls	33

SECTION 11.02.	Notices	33
SECTION 11.03.	Communication by Holders of Securities with Other Holders of Securities	34
SECTION 11.04.	Certificate and Opinion as to Conditions Precedent	34
SECTION 11.05.	Statements Required in Certificate or Opinion	34
SECTION 11.06.	Rules by Trustee, Paying Agent and Registrar	35
SECTION 11.07.	No Personal Liability of Directors, Officers, Employees and Stockholders	35
SECTION 11.08.	GOVERNING LAW	35
SECTION 11.09.	No Adverse Interpretation of Other Agreements	35
SECTION 11.10.	Successors	35
SECTION 11.11.	Severability	35
SECTION 11.12.	Counterpart Originals	35
SECTION 11.13.	Table of Contents, Headings, Etc.	35

Term	Defined in Section
“Covenant Defeasance”		8.03
“Event of Default”		6.01
“Legal Defeasance”		8.02
“notice of acceleration”		6.02
“Paying Agent”		2.04
“Registrar”		2.04
“Service Agent”		2.04
“Transfer”		5.01

	If to the Company or the Guarantor:

	Icahn Enterprises L.P.
	Icahn Enterprises Finance Corp.
	767 Fifth Avenue, Suite 4700
	New York, New York 10153
	Attention: Jesse Lynn, General Counsel

	With a copy to:

	Proskauer Rose LLP
	Eleven Times Square
	New York, NY 10036-8299
	Attention: Julie M. Allen, Esq.

	If to the Trustee:

	Wilmington Trust, National Association
	50 South Sixth Street, Suite 1290
	Minneapolis, MN 55402
	Telecopier No.: (612) 217-5651 Attention: Corporate Trust Administration

	With a copy to:

	Curtis, Mallet-Prevost, Colt & Mosle LLP
	101 Park Avenue
	Suite 3500
	New York, New York 10178
	Facsimile No.: (212) 697-1559
	Attention: Susana M. Namnum, Esq.
	Valarie A. Hing, Esq.

	ICAHN ENTERPRISES L.P.

	By:	Icahn Enterprises G.P., Inc.,
		its general partner

	By:
		Name:
		Title:

	ICAHN ENTERPRISES FINANCE CORP.

	By:
		Name:
		Title:

	WILMINGTON TRUST, NATIONAL ASSOCIATION, as TRUSTEE

	By:
		Name:
		Title:

SECTION 10.02.	Effectuation of Subordination by Trustee	33
SECTION 10.03.	Knowledge of Trustee	33
SECTION 10.04.	Trustee’s Relation to Senior Indebtedness	33
SECTION 10.05.	Rights of Holders of Senior Indebtedness Not Impaired	34

ARTICLE 11	NOTE GUARANTEES	34

SECTION 11.01.	Guarantee.	34
SECTION 11.02.	Limitation on Guarantor Liability.	35
SECTION 11.03.	Execution and Delivery of Guarantee.	35

ARTICLE 12	MISCELLANEOUS	35

SECTION 12.01.	Trust Indenture Act Controls	35
SECTION 12.02.	Notices	35
SECTION 12.03.	Communication by Holders of Securities with Other Holders of Securities	36
SECTION 12.04.	Certificate and Opinion as to Conditions Precedent	36
SECTION 12.05.	Statements Required in Certificate or Opinion	36
SECTION 12.06.	Rules by Trustee, Paying Agent and Registrar	37
SECTION 12.07.	No Personal Liability of Directors, Officers, Employees and Stockholders	37
SECTION 12.08.	GOVERNING LAW	37
SECTION 12.09.	No Adverse Interpretation of Other Agreements	37
SECTION 12.10.	Successors	37
SECTION 12.11.	Severability	37
SECTION 12.12.	Counterpart Originals	37
SECTION 12.13.	Table of Contents, Headings, Etc.	37

Term	Defined in Section
"Covenant Defeasance"		8.03
"Event of Default"		6.01
"Legal Defeasance"		8.02
"notice of acceleration"		6.02
"Paying Agent"		2.04
"Registrar"		2.04
"Service Agent"		2.04
"Transfer"		5.01

	(a)	Name and address of each examining or supervising authority to which it is subject.

		Comptroller of Currency, Washington, D.C.
		Federal Deposit Insurance Corporation, Washington, D.C.

	(b)	Whether it is authorized to exercise corporate trust powers.
		The trustee is authorized to exercise corporate trust powers.

	WILMINGTON TRUST, NATIONAL ASSOCIATION


	By:	/s/ Hallie E. Field
	Name:	Hallie E. Field
	Title:	Vice President

	WILMINGTON TRUST, NATIONAL ASSOCIATION


Dated: July 14, 2021	By:	/s/ Hallie E. Field
		Name:	Hallie E. Field
		Title:	Vice President

ASSETS	Thousands of Dollars
Cash and balances due from depository institutions:		6,970,833
Securities:		5,706
Federal funds sold and securities purchased under agreement to resell:		0
Loans and leases held for sale:		0
Loans and leases net of unearned income, allowance:		112,764
Premises and fixed asset		27,296
Other real estate owned:		534
Investments in unconsolidated subsidiaries and associated companies:		0
Direct and indirect investments in real estate ventures:		0
Intangible assets:		445
Other assets:		57,342
Total Assets:		7,174,974

LIABILITIES	Thousands of Dollars
Deposits		6,463,386
Federal funds purchased and securities sold under agreements to repurchase		0
Other borrowed money:		0
Other Liabilities:		71,246
Total Liabilities		6,534,632

EQUITY CAPITAL	Thousands of Dollars
Common Stock	1,000
Surplus	410,040
Retained Earnings	229,546
Accumulated other comprehensive income	(244	)
Total Equity Capital	640,342
Total Liabilities and Equity Capital	7,174,974